PJT Partners (NYSE:PJT) Shares Gap Down to $93.36

Shares of PJT Partners Inc. (NYSE:PJT) gapped down before the market opened on Tuesday . The stock had previously closed at $93.36, but opened at $89.00. PJT Partners shares last traded at $88.63, with a volume of 65,489 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Seaport Res Ptn lowered PJT Partners from a “buy” rating to a “neutral” rating in a report on Tuesday, December 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $99.00 price target (down from $108.00) on shares of PJT Partners in a report on Tuesday, January 9th. JMP Securities upped their price target on PJT Partners from $105.00 to $110.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 7th. Wolfe Research reiterated an “underperform” rating and set a $89.00 price target on shares of PJT Partners in a report on Wednesday, January 3rd. Finally, UBS Group reiterated a “sell” rating and set a $75.00 price target (down from $100.00) on shares of PJT Partners in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, PJT Partners currently has a consensus rating of “Hold” and a consensus target price of $93.25.

PJT Partners Price Performance

The business has a 50 day moving average of $98.90 and a 200 day moving average of $90.81. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 30.54 and a beta of 0.69.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, February 6th. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.20. PJT Partners had a return on equity of 17.44% and a net margin of 7.09%. The business had revenue of $328.60 million during the quarter, compared to analyst estimates of $304.26 million. During the same period in the prior year, the company posted $1.08 earnings per share. PJT Partners’s revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts forecast that PJT Partners Inc. will post 3.85 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.00 annualized dividend and a yield of 1.06%. PJT Partners’s dividend payout ratio is currently 32.47%.

Insiders Place Their Bets

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the completion of the transaction, the insider now directly owns 73,421 shares in the company, valued at $7,678,368.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total transaction of $466,050.00. Following the sale, the general counsel now owns 1,541 shares in the company, valued at $143,636.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the sale, the insider now owns 73,421 shares in the company, valued at approximately $7,678,368.18. The disclosure for this sale can be found here. Insiders sold 27,926 shares of company stock worth $2,875,672 over the last three months. 10.67% of the stock is currently owned by corporate insiders.

Institutional Trading of PJT Partners

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of PJT Partners by 15.0% during the fourth quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock worth $247,513,000 after purchasing an additional 317,437 shares during the last quarter. BlackRock Inc. grew its holdings in shares of PJT Partners by 4.4% during the second quarter. BlackRock Inc. now owns 1,767,070 shares of the financial services provider’s stock worth $123,059,000 after purchasing an additional 75,198 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of PJT Partners by 6.7% during the third quarter. Clearbridge Investments LLC now owns 1,104,971 shares of the financial services provider’s stock worth $87,779,000 after purchasing an additional 68,951 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of PJT Partners by 7.7% during the third quarter. Eagle Asset Management Inc. now owns 969,694 shares of the financial services provider’s stock worth $77,032,000 after purchasing an additional 69,485 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of PJT Partners by 7.1% during the fourth quarter. Alliancebernstein L.P. now owns 908,829 shares of the financial services provider’s stock worth $66,972,000 after purchasing an additional 59,916 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.